Singapore stocks open higher on Monday; STI up 0.1%

SINGAPORE shares opened slightly higher at the opening bell on Monday, after US markets closed in positive territory on Friday.

The Straits Times Index (STI) gained 2.80 points or 0.1 per cent to 2,858.62 as at 9.05am.

Gainers outnumbered losers 99 to 48, after 151.8 million securities worth S$301.1 million changed hands.

Singtel was one of the most actively traded counters by volume, gaining S$0.01 or 0.4 per cent to S$2.43 with 9.6 million shares traded.

Other active counters include Genting Singapore, down 0.5 Singapore cent or 0.6 per cent to 84 cents after 6.8 million shares changed hands, and Sembcorp Marine, which rose 0.1 Singapore cent or 0.6 per cent to 16.9 cents with 6.7 million shares traded.

It was a mixed bag among the local banks, which were the most traded counters by value. DBS slipped S$0.03 or 0.1 per cent to S$25.65, UOB fell S$0.16 or 0.7 per cent to S$22.90, while OCBC gained S$0.05 or 0.5 per cent to S$10.20.

In the US, the S&P 500 and Nasdaq both closed at record levels on Friday as markets continued to look past rising coronavirus cases towards a better economy in 2021, with the arrival of potential vaccines for Covid-19.

The tech-rich Nasdaq Composite Index led the major indices, advancing 0.9 per cent to 12,205.85, scoring a second straight record following a holiday-shortened session. The broad-based S&P 500 added 0.2 per cent to 3,638.35, while the Dow Jones Industrial Average put on 0.1 per cent to 29,910.37.

Elsewhere in Asia, Tokyo stocks opened higher on Monday. The Nikkei 225 added 125.84 points or 0.5 per cent to 26,770.55 in early trade, while the broader Topix index gained 0.12 point or 0.01 per cent to 1,786.64.